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ATA Creativity Global (AACG) investor relations material
ATA Creativity Global Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 net revenues were RMB67.3 million ($9.5 million), stable year-over-year, with nine-month revenues up 7.1% to RMB179.0 million ($25.1 million) due to growth in research-based learning and overseas study counseling services.
Net income attributable to shareholders was RMB2.4 million ($0.3 million) in Q3 2025, reversing a net loss of RMB14.7 million in Q3 2024, mainly due to a one-time investment gain and cost controls.
Operating expenses in Q3 2025 dropped 22.4% to RMB37.0 million, driven by streamlined sales processes and lower selling and administrative costs.
Student enrollment in Q3 2025 was 1,052 (down from 1,289 year-over-year), but project-based program credit hours delivered rose 22.9%.
Strategic focus remains on expanding research-based learning, overseas counseling, and digital/technology-driven offerings.
Financial highlights
Q3 2025 net revenues: RMB67.3 million ($9.5 million), unchanged year-over-year; gross profit: RMB26.4 million ($3.7 million), down from RMB30.0 million ($4.3 million) in Q3 2024.
Q3 2025 gross margin: 39.2% (down from 44.6%); nine-month 2025 gross margin: 44.7% (down from 46.4%).
Q3 2025 operating expenses: RMB37.0 million ($5.2 million), down from RMB47.7 million ($6.8 million) in Q3 2024; operating loss narrowed to RMB10.6 million from RMB17.6 million.
Nine-month 2025 net loss: RMB21.7 million ($3.1 million), improved from RMB49.4 million ($7.0 million) in the prior year.
Cash and cash equivalents as of September 30, 2025: RMB96.8 million ($13.6 million); total assets: RMB462.5 million ($65.0 million); total liabilities: RMB403.7 million ($56.7 million); shareholder equity: RMB58.8 million ($8.3 million).
Outlook and guidance
Full-year 2025 net revenues expected between RMB276 million and RMB281 million, a 3–5% year-over-year increase.
Portfolio training services expected to remain the main revenue pillar and student acquisition channel, with growing contributions from other business lines.
Guidance is based on current operations and market conditions, subject to change.
Management expects to achieve guidance, supported by new program launches and ongoing cost controls.
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